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HomeMy WebLinkAboutD-1690 . , ',...~ ~ :,J , I' , i. 01 If ',',. . CERTIFICATE OF ACCEPTANCE ~~ 04077 rG 868 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 February 26, 1968 " froin. or executed by Oscar R. McMahan and Doris M, McMahan , is hereby accepted by the City of Arcadia by the order or authori- zation 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 ~ecordation thereof by it. s duly authorized O!;iCers..I" ~~_/ ~//.~ , . i ty Mana Ci ty Engineer . The document thus described is her~~~orm. City A~ ..pi; o -.J C!TY'Ol1 ARCADIA 407 "//- /f>9p U 04077 r G 86T ,.':; -....~ECORDfNG REQUE:STED BY ANO/WHEN RECORDED MAIL TO > RECOROED IN OFFICIAL RECORDS OF LOS ANGELES COUNlY, CALIF, FOR TITLE INSURANCE & TRUST co. JUL 25 1968 AT 8 A.M. RAY. E. LEE, County Recorder I City Clerk I \ I P.O. Box 60 0 I Nome Slreet Addrell SPACE ABOVE THIS LINE FOR .v I FREE ~ V J RECORDER'S: USE City & SlateL Arcadia, Calif. ~ MAil TAX STATEMENTS to I City of Arcadia I Name SIr"", Addreu City & SIClleL ~ I Grant Deed . I AFFIX I.R.S, S THIS FORM FURNISHED BY TITLE INSURANCE ANO....TRUST COMPANY / / ./ ./ FOR A VALUABLE CONSIDERATION, r~cei~f which is hLI~~:knowledged, OSCAR R. MC MAHAN and DORIS M. MC MAHAN and DEPARTMENT OF VETERANS AFFAIRS OF THE STATE OF CALIFORNIA - ,JJ~n;;eb,"~<>>) to the CITY OF ARCADIA a Municipal Corporation, . .]1. /1'1 FEe ' C(!! ' BE. eaS8.HlsRt for public street and road purposes, to become a part of and to be known, as Baldwin Avenue, in, on, upon and across .....n ABOVE TO 405 C (4.67) the following described real property in the County of 'Los Angeles City of Arcadia , State of California: \ -., The easterly l2.00 feet of the South 48.00 feet of the North 100 feet of the East 136 feet of Lot 1 in Block "H" of Santa Anita Land Company's Tract, in the City of Arcadia, County ~f Los Angeles, State of California, as per map recorded in Book 6, Page 11 of.Miscel1aneous Records, and in Book 6, Page 137 of Maps, in the office of the County Recorder of said County. i' , DOCUMENTARY TRANSFER TAX $Jd4."m.,:..'"'' Title Insurance dnd MJi.uJ Trust Compa2- '~~lED - PA~f/OR AGENT ~:_ As instructed by ..~... r!:f:m..-..-...- -:- PUBLIC AGENCY - NO TAX STATEMEW '" Vl ; n J ;u 'U ..., 0 Z n '" :I: '" " () ::j A -I ,n '1 0 " ~ n < . D.,":Zk~;(~J JdY ,/ -' STATE OF CALTFORNTA } COUNTY OF LOS ANGELES 55, On ? - 2 ,:; - /"'i")' be!o," me, tbe under, signed, a Notary Public in and for said State, personally appean'd Oscar R. McMahan and Doris M. McMahan . known to me to he the person~whost: name s are subscrihed to the within indrl1,.....,nt <>,.,.-1 "....1.,.,,,"'1...-1....,,,1 .l..., thev ~~G~...~,I .\._ ~~~_ I.."..,...:::::.,...,.".............;:;~';;r'j~.:'..c..;~.;......~ t+:lo <:> ....] ... ": \ ~ . ,i... , GRANT . DEED GRANT DEED Title Insurance and Trust Company Title Insurance and Trust Company COMPLETE STATEWIDE TITLE SERV1CE WITH ONE LOCAL CALL COMPLETE STATEWIOE TlTLE SERVICE WITH ONE LOCAL CALL 4'.. .. r ~'''.. ....... --.- \. "- "',. 1/' " . \~ ~j" I " ,... :.., (" ~ r t ., '\, ~ 7 -'.'..,' ST A IE. OF CALIFORNIA } ,55. County of Sacramento On:'October 22, lq6~ 19XXlL per..nallyappedred G. J. Z IS ER wit~~n instrume,n. on beho'lf of tho Department of that"such doportnlent ,executed the; same. * . KATHRYN HAENGGI -b' 'NOTARY PUBLIC . C~lIFORNIA , ~, .' COUNTY OF SACRAMENTO . ,My com~issi~n expires" Apr. 2, 1969 T ,,":n. Acknowledgement - Authorized Officer before ~.th. unde.rsigned, 0 ,Notary Pu~lic in and fo~ s~id County and'State.. , ~nown to me to b~ an authorized officer who o?Cocuted the V.terans Affairs of the Stat. of California therein no , and acknowledged ~ a-. CXJ o '~" . ,- .. o :!:. (,'. : CERTIFICATE OF ACCEPTANCE ~ K 0421 0 r G 377 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 October 22, 1968 , from or 'executed by Dept. of Veterans Affairs of the State of California , 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 authorize officers. ~?/~ Ci ty Engineer Thed~cument thus described is hereby approved as to form. ~ ' 1 ty ttorney RECORDING' REQUESTED BY llOOU N,O ....,...,... """"f rt.c.-I'lt '\. ......v... B ~ U4i I U P G 376 CODE 610d CITY'OF ARCADIA, a municipal corporation AND WHEN RECORDED MAIL TO RECORDED IN OFFICIAL RECORDS OF LOS ANGELES COUNTY, CALIF. I CITY OF ARCADIA, City C1erk-' MICII.' 1:' - liI6H'fS8MERY All _h .... '_..n .GJS r St'ABg St.~ Suite IntO l..~s All! <:.kA. CC]lI:r ~n~H 4 I p,O, Box 60, Arcadia, Ca1ir.- 25 ~~~i 1 P.M. NOV29!1968 RAY E. LEE, County Recorder NClme Street Address City & State L SPACE ABOVE THIS LINE FOR RECORDER'S USE MAIl TAX STAUMENTS TO NClme I City of Arcadia 240 West Huntington Drive Arcadia, California I Street Addreu City & State l_ ~. ", .,. '. ~. (FREE ~Sl TO 402 CA (9-66) .Quitclaim Deed AFFIX $ I. R. ,STAMPS ABOVE THIS FORM FURNISHED BY TITLE INSURANCE AND TRUST COMPANY '<; . FOR A VALUABLE CONSIDERATION, receipt of which ,is hereby acknowledged, DEPARTMENT OF VETERANS AFFAIRS OF THE STATE OF CALIFORNIA hereby REMISE(S), RELEASE(S) AND FOREVER QUITCLAIM is) to CITY OF ARCADIA, a municipal corporation the following described real property in the ci tyof Arcadia > . state of California: county of Los Angeles : The easterly 12.00 feet of the south 48.00 feet of the north 100 feet of the ~ast 136 feet of Lot 1 in Block "H" 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 11 of Miscellaneous Records and in book 6 page 137 of Maps, in the office of the County Recorder of' said county. \~r 'i; >-' :J: a:i] C"! ~ ~ u w .. :t: - U. " :> ~ a: '-' Vl oj '" '\. Dated October 22 , 1968. DEPARTMENT OF VETERANS AFFAIRS OF THE STATE 0 CALIFORNIA By u I' STATE OF CALIFORNTA COUNTY OF }ss . . G!. J. Z- SER As~s:i"st'arit' lfan:a~fer':%in"d'rACuthor i zed Officer of Department of Veterans Affairs of the State of Californi CoJ ~ ~ o On before me, the under- signed, a Notary Public in and for said State, personally appeared '. to he the perSOlL---- whose name , known to me subscribed to the within , I ,r{:". ./ i ./ f:.J. \~:.'~;'~ :. I .. _. ,"'h" . \' '-- ~ "- . ,- ~ QUITCLAIM DEED' Title Insurance and Trust Company COMPLETE STATEWIDE TITLE SERVICE WITH ONE LOCAL CALL. ..-: - ;~~ .. QUITCLAIM DEED Title Insurance and Trust Company COMPLETE STATEWIDE TITLE SERVICE WITH ONE LOCAL CALL ,- , ~". .~ "~l _-.. I if, \, ., _'r . .' , . . . . . . . . . ' MARK H. BJ...OODGOOO AUDITOR.CONTROLLER , , . COUNTY OF LOS ANGELES DEPARTMENT OF AUDITOR-CONTROLLER 153 HALL OF ADMINISTRATION LOS ANGELES. CALIFORNIA 90012 625-3811 /~ March 28, 1969 City of Arcadia 240 West Huntington Drive Arcadia, California 91006 Attention: Robert D. Ogle City Attorney Re: Baldwin Avenue Parcel No. 6 Gentlemen: JJ- It to. RECEIVED APR - 2 1969 CITY OF ARCADIA CITY. ATTORNEY Pursuant to y"ur letter dated September 23, 1968, tax<os have been cancell.cd in accc,rdance with Section 4986 "f the Reven'.le and Taxation CDde. This cancel- lation was order"d by the Honorable Board of S".lper- visors Jan. 14, 1969 by Auth"rization No. 07757. Very truly y'urs, ~ffi~~ ~::A:=Oller BY J. ~ :':ssarella, Chief - "- f\. Tax Division JRPjEHP/ejri , ROBERT A. GILL CHIEF DEPUTY J. R. PASSARELLA, CHIEF, TAX DIVISION "" .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 September 23, 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. 6 Dear Mr. Passarella: Please cancel as of the date of recording all taxes on the property described in the enclosed copy of deed. This prop- erty is part of a larger parcel acquired for street widening purposes. There is no building on it. Very truly yours, RDO: jh Enc. I~ MAILING ADDRESSES CITY HALL P. O. BOX 60 91006 LIBRARY 20 W. DUARTE ROAD 91006 POLICE DEPARTMENT P. Q. BOX 60 91006 FIRE DEPARTMENT 710 S. SANTA ANITA AVE. 91006 TELEPHONES 446.4471 . 681.0276 446.7111 447-2121 446-2128 1.--, ~~~ 11\ ({~' TO 1012 FC (7.b8) C"liforni" L<'Ind Title Assod<'ltion St<'lnd<'lrd Cover"ge 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 jf 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 su~tain 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 dare hereof. not shown or referred to in Schedule B or excluded from coverage in Schedule B or in the Conditions and Stipulations; or 2. Unmarketabiliry of such title; or 3. Any defect in rhe execution of any mortgage shown in Schedule B securing an indebtedness, the owner of which is named as an Insured in Schedule A, but only insofar as such defect affects the lien or charge of said mortgage upon the estate or interest referred to in 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; b. h ""'-'~h1\.'-'\\.\".. f Seh d I A B d C d h Cd' d S' I all su Ject, ow~er;;:.to t e prOVISIon, 0 e u es , an an to t e on itlOns an trpu atlons hereto annexed?"' ....~Ct: AND r~(;, \\11 - ~r 0000000 '.$' I ff -\> ooO~~ '5 PRO~oo l' I, JIll"!' 0 00 ~ .o.g.(r1:tIt, "".on 0 I f ;; ~ o.~ I;f.q. -e;(jttE1Jlh~Jf{"/tneJSC~hereo 1 Title Insurance and Trust Company has caused its :-!..... 0...... ~ 1':.. <,,0 -? 'J ~ ... 00 J..:, q. comorate1rfume and seal to be hereunto afhxed by Its duly authonzed offICers "'...... ~ ~,)r\~,-v -0 ~ ~ ~ g~ ~C-~- l"~~e~a&r,?:nt Schedule A. ~ I- 0 /~1t..~~ 1\il 0 -< ;;! ~ ~.:. ~g..::~ J,IJ.,'Q1 i Title Insurance and Trust Company 'I. .{I oooSo", -';' -. "J;-~"'oo >} * I, <ol!'s...---- .,.'<'OL. :::: '1 0 oOo",qTE ',S (,"000 ,...': ~ / '11\ '.$' 4;0000000 C~v .: by /-.;~ ~ \\\\" GELES, ~~ PRESIDENT '\\\,\,\,-"",~ Attest ~H-~ SECRETARY CONDITIONS AND STIPULATIONS 1. DEFINITION OF TERMS The following terms when used in this policy mean: (a) "land": the land described, specific- ally or by reference, in Schedule C and improvements affixed thereto which by law constitute real property; (b) "public records": those records which impart constructive notice of matters relating to said land; (c) "knowledge": actual knowledge, not constructive knowledge or notice which may be imputed to the Insured by reason of any public 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 (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 all of the conditions and stipula- tions hereof. 3. EXCLUSIONS FROM THE COVERAGE OF THIS POLICY This policy does not insure against loss or damage by reasons of the following: (a) Any law, ordinance or governmental regulation (including but not limited (0 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 erectee! on said land, 0r prohibiting a separation in ownership or a reduction in rhe dimensions or area of any lot or parcel of land. (11) Governmental rights.of police power or eminent domain unless notice of the exercise of such rights appears in the public re((mls at the date hereof. (c) Title to any property beyond the lines of the land expressly described in Schedule C, or title to streers, roads, ave- nues, lanes, ways or waterways on which such land abuts. or the right to l1lainrain therein vaults. tunnels, r:lmp~ nr any 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 physically open streets or highway~ thi~ policy insures the ordinary rights of ahuttin~ owners for access to one of stich streets or highways. unless otherwise excepted or excluded herein. (d) Defects, liens, encumhrances, adverse claims against the title as insured or other matters (1) created. suffered, assumed or agreed to by the Insured claiming loss or damage; or (2) known to the Insured C]aimam either at the date of this poljcy or at the date such Insured Claimant ac- quired an estate or interest insured by this policy and not shown by the public records. unless disclosure thereof in writing by the Insured shall have been made to the Com- pany prior ro the date of this policy; or (3) resulting in no loss [0 the Insured Claim- ant; or (4) attaching or created subsequenr 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 ~a]e 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 esrablish 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 detcrmination in the court of last resort. (b) In case any such action or proceed- ing shall be hegun, 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 Inss or damage for wbch the Company shall or may be liable by viLtue of this policy, or if the Insured shall in good faith contract to sell the in- debtedness secured by a mortgage covered by this policy. or, if an Insured in good faith leases or cuntracts to sell, lease or mortgage the same. or if the successful bidder at a foreclosure sale under a mort. gage covered by this policy refuses to pur- chase and in any such event the ride 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 shall not, in writing, promptly nOtify the Company of any de- fect. lien or encumbrance insured against which shall come to the knowledge of the Insured. or if the Insured shall not. in writing. promptly notify the Company of any such rejection by reason of claimed un. marketability of tide. then all liabi]ity of the Company in regard to the subject matter of such action. proceeding or matter SI;:l11 cease and terminare; provided. however, that f:Jilure 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 t,l the ex!(;'nt 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 title of the estate or inlerest or the lien of the mort. gage as insured; and rhe Company may lake any appropriate action under the terms of this poliq whether or not it shall be liable thereunder and shall nOl therehy 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 lnsured 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 oplion, the flame 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 o{ defending such action or proceed- ing, and the Company shall reimburse the Insured for any expense so incurred. S. NOTICE OF LOSS - LIMITATION OF ACTION In addition to the notices required under paragraph 4(b), a sratement in writing of any loss or damage for which it is claimed the Company is liable under this policy shall he furnished to rhe Company within sixty days after such loss or damage shall have been determined. and no right of action shall accrue to [he 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 ,!fter expiration of said thirty day period. Failure to furnish such starement of loss or damagl', or to commence such action within the time hereinbefore specified. shall be a con- clusive har 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 amount of this policy, or, in case loss is claimed under this policy by the owner of the indebtednl'ss secured by a mortgage covered hy [his policy, the Company shall have the option ro purchase said indebtedness; such pur- chase, payment or tender of payment of (Conditions and Stipulations Continued and Concluded on Lost Page of This Policy) A ~, " 110 TO 1012.) AB C California land Title Association Standard Coverogo Pollcy-1963 SCHEDULE A Premium $1-( 0 . 0 'D Amount $ 2,000 . 00 Effective Date July 25, 1968 at 8 a.m. Policy No, 6725969 INSURED CITY OF ARCADIA, a municipal corporation. 1. Title to the estate or interest covered by this policy at the date hereof is vested ill: CITY OF ARCADIA, a municipal corporation. 2. The estate or interest in the land described or referred to ill 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 us 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 arc 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 arc 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. so ., -I' . :.,- o TO l012-1B Cont. C California Land Title AuoclatJon Standard Coverage Pili icy_I 963 S C H E D V 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. For the fiscal year 1967-1968, Second Installment $128.35 plus penalties, Parcel No. 5383-24-24. 2. An easement affecting all of said.land and for the purposes stated herein, and incidental purposes, In Favor Of Santa Anita Land Company For pipe lines Recorded in book 2514 page 225 of Deeds And Recorded in book 2577 page 297 of Deeds. 3. An action Commenced Enti tled in the Superior Court February 7, 1968 City of Arcadia, a municipal corporation, versus, Britta L. Albert, et al . 926351, County of Los Angeles Action: to condemn real property Parcel 6. Case No. Nature of Affects Notice of the Recorded pendency pf said action was February 9, 1968 in book M 2772 page 966, Official Records. 4. The folloWing provision of the deed from Oscar R. McMahan and Doris M. McMahan and Department of Veterans Affairs of the State of California to The City of Arcadia, a municipal corpo- ration, recorded July 25, 1968 as Instrument No. 407, "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 IOI2-1-1056-1C C American land Title Association loan Policy Additional Coverage-1962 0' California lond 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: The easterly 12.00 feet of the south 48.00 feet of the north 100 feet of the east 136 feet of lot 1 in block "H" of Santa Anita Land CompanYjs Tract, in the city of Arcadia, county of Los Angeles, state of California, as per map recorded in book 6 page 11 of Miscellaneous Records, and in book 6 page 137 of Maps, in the office of the county recorder of said county. . -- ~ TO 2:34 VC' SAN~ ANITA BLOCK 1-1 LAND COMPANY:5 M 86-137 7PACT J II .+~ I ! . LEMON---.--_~~._- -_.AVE.-~~-I 630 ~<<' -.. ?~;.. ~ 15.90 ,....".....".. 10. .",. '.4 ~ {)( 1"2!.!)J,Z "2 ~ ~'.2 ~ se 70 ,.. 6.5 , R : ~~~~' ~1~~I~' ~ ~-;;j'~\ I ' ~~~ I I ~,(~:e> k ~ - J!. - -' ; . ~8 _ J ~I~\~ I '~~'" ~ ' gg.~ ~. ; I ~o/ f..d I I lL~~@3)~ ' ,~ I, , o~/ I f- - l ~.L: - ~ - I ; ~ l/~~I I I "f5& g , I.. I ' , ' ~ : T i ! hl/.1r 1 rt~~. '\ ~1- r - -\t\ I " '~_ -I- _ ~ -k -+ --181-= '""_'-., I \ II .j ~I .'\--Y~_~A:j~t~: J. '-,= .07') \)'- _",:'L- - -*~'~ ~~ '_ ~ "<("'~~j) r ~~ V-.", - - - /~tV- ~, ~~ /~V ~': -=- -=~ "7~~~~~I~All~Y; Q ~. I P7,!lt'@]lQ]@' 1i'.'. ~I~~II In) I ~\ - ~n ~ ~=~~Im!{~ _~~()j 8oi. 6f' 117 117 2S4 1~1l (). .....'6..!10...,.. -l -~'LOAlGCU!~/'V~- .---. ----- --(.9A;.v-~~~;~-' - ~ - _u._...__ 1 I " I 6 , ' ~ j I 'Z ~ () .J g"{ -Ill J U4 : ~,5 0"'" f . ------AVE~ -~-~-- I:r @ 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 of Policy Face) the fuIl amount of this policy, together with all costS, attorneys' fees and expenses which the Company is obligated hereunder to pay, shall terminate a1l liability of the Company hereunder. 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 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, J.1l costs imposed upon the Insured in ] iti- 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 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 nm excepted or excluded in this policy, until there has been a final determination by a coun of competent juris- diction sustaining such rejection. (d) All payments under this policy, ex- cept payments made for costs, attorneys' fees and expenses, shall reduce the 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 ov.'ner of an indebtedness secured by a mortgage shown in Schedule B is an Insured herein then such payments shall not reduce pro tanto the amount of the insurance afforded hereunder as to such Insured, except to the extent that such payments reduce the amount of the indebtedness secured by such mort- gage. Payment in full by any person or voluntary satisfaction or release by the In- sured of a mortgage covered by this 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 bereof. (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 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 ()[ 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 he 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 hy 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 policy, all right of sub- rogation shall vest in the Company un- affec[('d hy 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 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 hears to the amount of said loss. If @ loss should result fnH11 any act of the In- sured, such act shall not void this policy. hut the Coml-lany. in that event. shall be reguired to pay only that p.lrt of any losses insured against hereunder which shall ex. ceed the amount. if any, lost TO the Com- pany by reason of the impairment of the right of subrog<ltion. The Insured, if re- quested 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 [he 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 persona] liability of any debtor or guarantor, or extend or otherwise modify the terms of payment, or release a portion of the estate or interest from the lien of the mortgage, or release any col- lateral security for the indehtedness, pro- vided such act does not result in any loss of ptiority 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 title of the estate or interest 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 writing endorsed hereon or attached hereto signed by [he President, a Vice President, the Secretary, an Assistant Secretary or other \'alidating officer of the Companr. 11. NOTICES, WHERE SENT All notices required to be givl:"n the Com- pany and any statement in writing rl:"quired 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. , 2, 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 TO 1012 FTC (7-bS) . C"liforni" LMd Title AS$oc.i"tion St"ndord Coveroge' Policy Form Copyright 1~63, ' '. .:. ' '.',.[" " " " '; . ~ ., POLICY Of. TITLE 'INSURANCE' 1 ~J. Cr " ;;1 " ,.' ,;, ... " . " " " " I~SUED BY ," , " , " .f~' _ " l' " '." " ,', Title Insurarice and Trust Company " t .., . '" Title Insurance and Trust. Company, a Calif9rnia corporation, herein called the Company, for a valuable consideration paid for this policy, the number, the' effective date, and amount of which are shown ih 'Sch~dule' A, herebY' irisures the parries naq1ed a~, In~ured in Schedule A, the: heirs, d~vi~ees...persona:i' representatives of such Insured, or if a corporation, its successors by dissolution, merger or consolidation, against'lo~s or' damage .'not exceeding the amount stated in Schedule A, together with costs, attorneys' fe~s an~ expenses which the Compa'ny m~y become'.obligated to, pay ,~s provided.'i~ the Conditions and Stipu~~ti6ns ?ere6( Which the Insured shall'sustain by reason of: ' , . :'::'_' : - ~ '.. ... '. ~. ' ,,' ,) , . '1. - Any - defecr in or lien or encumbrance on the title to the _estate or interest covered, hereby in the , land described or r~ferred -to in Schedule. C, existing at the date hereof, not shown or referred to , in Schedule B~ or e~c1uded from coverage in Schedule B or in the:.~ondi[ions arid Stipulations;' or 2. Unmarketability of s.uch title;' or '" 3. Any defect i~ [he e~ecution of a~y, mortgage .sh~wn in Schedul; B' securing a~ indebtedness, t.he t - . 'I owner of which is 'named as an Insured in Schedule A, but only' insofar as such defect affects the lien or charge of said mortgage upon the estate or intetest referred to in tJ-iis policy; or " . -" " . " ..I. Priority ovet.said mortgage,;[ the'date hereof,.of any lien or encumbrance not shown or referred' to in Schedule Bt or excluded fro~ ~overage in the. Conditions and Stipulations, said mortgage. being .showo' in Sche,dule Bin' Jhe Qrder o(irs. pr~ority; . " ~r ,', " b' " 'h ': "'::"';;:'~h"-'\.'\.\.\.~'" f Sch" 'd I A B d C d h C d" d S' I ' all su )ect, owever:- to t e nrOVlSlons 0 e u es , '~n. an 'to t e on ItIons an tlpU atlOns -" "'E ANO r -"\ ' hereto'annexed~ ...~... R',^ \\1' ' '" ' , , ~ <>r 0000000 vv>. " " .. .. , : ,>'" oo';t.t IS PROooo ,. I, ' , , ,:::;- Co ooQ~O -t>{I:b~*, J"bPn <:> j , ;t ~ o.~ q.'" ~1J'U:11In' Wltness:.~hereofJ .Tltle Insurance and Trust Company has caused its JI! ..... '02d" . 'W,' <" 0_ '4 rJ ' " " ' Z ... 00 * comorate"1name and seal to be hereunto afflxed by Its duly authonzed offICers ~...... ~ ~r \ -.- '\ OJ' -n ~ I C ~ -J gL . ' on[theidate'Shown,in Schedule A, , ~ !:: o~ ~ D1~ ~o Z ~ ' ~ \-'" 0, /~\rc~---"": ~~;._ 0 "'<' ~ , Z "0 ..;. ~~~dP" ,r. ')'If'.',,"ii, ~ Title Insurance and Trust Company '6 -{< 0 -Y", -c-;,,"', .. ",tv 00 >} ::; 'I 00 <-7",<,'., "~oo .j;: III <'0 00~"4":E IS G\}~oO ~'.5 ,11\ ~.4 00000000 ~~v E" : \\\\ NGE:LES. ..;:S:' \,\\'\'\.'\.,~~ ' ,,;r, , by )v~~ PRESIDENT Attest Copy of Policy' , No additional liability 'assumed 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; (e) "kno~,r1edge": actual knowledge, not constructive knowledge or notice which may he imputed 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 m~rtgage 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 ,whjc~", 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 provi_sions hereoF.. .' 2. BENEFITS AFTER ACQUISITION OF TiTlE If an insured owner o'f 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 Qr instrumentality, subject to all of the conditions and stipula- tions hereof. . 3. EXCLUSIONS FROM THE COVERAGE OF THIS POLICY This policy does not insure against loss or damage by reasons of the following: (a) Any law, ordinance or governmental regulation (including but not limited to building and zoning ordinances) restricting or regulating or prohibiting the occupancy, use or enjoyment of the land, or regulating the character, dimensions, or location of any improvement now or hereafter erected on said land, or prohibiting a, separation in ownership or a reduction)n the'dimensions or area of any lot or parcel of land. (b) Governmental rights' of police power or eminent domain unless notice 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 o~ waterways on which such land abuts, or the right to mainta'in therein vaults, tunnels, ramps or any 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 die. land abuts upon one ill" more, physically open streets or highways this policy insures the ordinary rights of abutting owners for access to one of stich streets _or highways, unless otherwise excep'kd .or 'excluded'- herein, (d) Defects, liens, encumbrances, adverse claims against the title as insured or other matters (1) created, _ suffered, assumed or agreed to '-'by the Insured claiming loss or damage; or (2): known _ to the Insured Claimant eitht:r at the date of this policy or at the date such Insured Claimant ac- quired an estate or interest insured by this policy and not shown by the public records, ,unless disclosure thereof in writing 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 qeated subsequent to ,the date hereof. (e) Loss or damage which would nOt have been sustained jf 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 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, ,\Yhich litigation or action . in any of such ev'ents is founded upon an' ,alleged defect, lien or encumbrance in- sured against by this policy, and may pur- sue any litigation to fin'al determination in the court, ,of last reso~(, '.. " (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 tide 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 w/;ich the Company shall or may be liable by virtue of this policy, or if the Insured shall in good faith contract to seJl the in- debtedness secured br a murtgage cuvered by this policy, or, i an Insured in good faith leases or contracts to sell, lease or mortgage the same, or if the successful I' bidder at a foreclosure sale under a -mort.. gage covered by this policy refuses to pur- chase and in any such event the tide 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 p]ead- ings or if the Insured shall not, in writing, promptly notify' the Company of any de- fect. lien or encumbm.nce insured a~ainst '-which shall-come to the knowledge of the Insured. ()r 'if the Insured shall not. in writing. promptly notify, the Company of any such rejection by ,reason of claime<i 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 {erminate; provided, however. that failure to notify shaJJ 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 ha,;e the right at its own' cost to'institute aod' prosecute any.. action or proceeding. or' do any other 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 ~ake any appropriate action under the terms of this policy whether 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 proceeding, 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 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 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. S. 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.' ~nd ria right of action"shaJl, 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 he commenced thereon within five year.~ after expiration of said thirty day period. Failure [Q furnish such statement of loss or damagt" or to commence such action within thl' time hereinbefore specified, shall be a con- clusive bar against maintenance by the In- sured of any action undl'r 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 alllOunt of this policy, or, in case loss is claimed under this policy by the owner of the indebtt:dne.~s secured by a mortgage covered hy this policy, the Company shaH have the option to purchase said indebtedness; such pur- chlise, payment or tender of payment of (Conditions ond Stipulations Continued and Con~'luded on Lost Page of This Policy) ~ - TO 1012-1 AS C California lend Title Association Standard Coverage Poli<;y-1963 S C H E DU LEA ,..... .' P , $ II , rem] urn , " Amount $ 2,000.00 Effective Date July 25, 1968 at 8 a.m. Policy No. 6725969 INSUHED CITlr!' OF ARCADIA. a municipal corporation. 1. Title to the estate or interest covered by this pol~cy at the date hereof IS vested In: CITlr!' OF ARCADIA, a municipal corporation. ~ '. ~' 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 msure 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 nre not shown by the public records hut which could be ascertained by an inspection of said land .or by making inquiry of persons in possession thereof. 3. Easements, claims of easenlCnt or encumbrances w~ich arc 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 t.he public records. 5. Unpotcntcd mining claims; reservations or exceptions in patents or in Acts authorizing the issuance thereof; water rights, claims or title to water. .r ... '-- '" . TO 10'12-1B Cont. C California Land Tifle Anoc:latlon Standard 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. For the fiscal year 1967-1968, Second Installment : $128.35 pluG penalties, Parcel No. 5383-24-24. , , 2. An easement affect1ng all of said land and tor the purposes stated herein. and incidental purposes, In Favor Of : Santa AnUa Land Company For : pipe lines Recorded: in book 2514 page 225 of Deeds And Recorded : in book 2577 page 297 ot Deeds. Case No. : Nature of Action: Affects : 3. An action in the Superior Court Commenced : February 7. 1968 Entitled ': City ot Arcadia. a municipal corporat1on. versus ~itta L. Albert. et al 926351. County of Los Angeles to condemn real property Parcel 6. Notice of the pendency pf said action was , Recorded : February 9. 1968 1n book M 2772 page 966. Official Records. 4. The following provision of the deed trom Oscar R. 14cMahan and Doris r4. McrlJahan and Department of Veterans Atfairs of the State of california to The City of Arcadia. a municipal corpo- rat1on. recorded July 25. 1968 as Instrument No. 407. "Grants to the City of Arcad1a. a municipal corporation. in fee. tor public street and road purposes. to become a part of and to be kno~na8 Baldt11n Avenue. tI ( ./ , l~ ,I - <." " _.r.o' , T() 1012-]-1D.56-1C C American land TItle Association loon Policy Additional Coverage-1962 0' California land TItle Association Standard Coverage Potlcy-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 or the soutb 48.00 fect of the north 100 feet of tbe east 136 feet of lot 1 1n block "no of Santa Anlta Land ccmpany;s Tract, in the city of Arcadia, county of Los Angeles, state of california, sa pel' map recorded in book 6 page 11 01' IUacellaneous Records, and In book 6 page 131 of f.~P&, In the office of'the county recorder of eaidcounty. .. , . ~.'.....,.~ -,.~. .::;* " . ~ ~ . , " ." , CONDITIONS AND STIPULATIONS (Continued and Concluded From Reverse Side of Policy Face) lhe full amount of this policy, together with all cosrs,'- attorney~' fees and expenses which the Company is -obligated hereunder to pay, 'shall terminate all liability of the Company hereunder. 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, ~1I costs imposed upon the Insured in liti- gation carried on by the Company for the Insured, and all costs and attorneys' fees in lirigation carried on by rhe Insured with rhe written authorization of the Company. (c) No claim for damages shall arise or be maintainable under this policy (I) if the Company," after having received notice of an alleged'defect, lien or encumbrance not excepted _Dr 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 writren consent ,of the Company, or (3) in the event the ticle is rejected as unmarketable because o"f a defect, lien or encumbrance not excepted or excluded in this policy, until there has been a final determinarion. .by a coun of. competent juris. diction sustaining such rejection. (d) All payments under this policy, ex- cept payments made for costs, attorneys' fees and expenses, shall reduce the 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 COI;'- pany; provided, however, if the owner' of ." an indebtedness secured by a mortgage shown in Schedule B is an Insured herein then such payments shall not reduce pro tanto the amount of the insurance afforded hereunder as to such Insured, except to the extent that such payments reduce rhe 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 rhe 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 ar priority af any martgage shown or referred to in Schedule B hereof or any mortgage ,here- after executed by the Insured which is a charge ar lien an 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 patagraph numbered 8 shall not apply to an'lnsured owner of an indebtedness ,secured by a mortgage shown in Schedule)~ unless.such Insured acquires title to said e5'tate or interest in satisfaction of said indebtedness or ~ny part thereof. 9. SUBROGATION UPON PAYMENT OR SETTLEMENT Whenever the Company shall have sertled 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 to such claim had this policy not been issued. If the payment does not cover the loss of the Insured, the CompilOY 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 resulr from any act of the In- sured, such aCt shall not void ,this' policy. but the Company,. in that event. shall be require"d to pay only that part of any lasses insured against hereunder which shall ex. ceed the amount. if ,my, lost to the Com- pany by reason of t~e impairment of {he right of suhro,gation'.';'-' The Insured, if ,re- quested by the Company, shall transfer to the Coillpany all rights and remedies against any person or property necessary in order to perfect such right of subrogation, and shall permit rhe Company to use the name of the Insured in any transaCtion or litigation involving such rights or remedies. If the Insured is the awner of the in. debtedness secured by a mortgage covered by this policy, such Insured may release or sl.!bsritutc rhe personal liability of any debtor or guarantor, Dr extend or otherwise 'modify the terms of payment, or release a portian 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 nor result in any loss of prioriry of the lien of the mortgage. 10. POLICY ENTIRE CONTRACT Any action o( actions or rights of action that the Insured may have or may bring against the Company arising out of the status of the lie.n of the mortgage covered by rhis policy or the title of the estate or interest insured herein, must be based un the provisions - of . this policy. No provision' ~r condition of this policy can be waived 'or changed except by writing endorsed hereon or attached hereto signed b~. the President; a Vice' President, the Secretary, an Assistant Secretary or or her validating offi~er ,of the Company, 11. NOTICES, WHERE SENT . All notices required to be givt"n rhe Com- pany and any statement in writing required to be furnished the Company shall be ad. dressed to it ar the office which issued this policy or to its Home Office. 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 ~:nd Trust Company , ' " c " POLICY OF TITLE INSURANCE -. ,. " 11' I .J .. " .-. :: ':,. . ..' l' '. . ~.. Providing direct title services '6r refer~ai " t services throughout the United States atid the territory of Guam, ' - " , " " .. i " " r- - .... ~-:: " ....: c- :: ". .' ;- . , . ' -' '." <:: - ~. . Title; Insura~ce : and " . Trust c.ompany - - , , r. , < " ; 0 .": c :,. ;