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Home My WebLink AboutD-1588 '. [ CERTIFICATE OF ACCEPTANCE ~K 03927 rG 194 ., 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 23. 1968 ; from or executed by Roxy F, Wilson , 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 cordation thereof by its duly authorized officersjl a~ /I~ Ii Ci ty Mana Ci ty Engineer The document t s described is hereby approved as~orm.-O ~'tl'O~ City ttorney Co-' o I-A ..- , '\'1 " . ~. I U\u.. D ^ UJ~a t'li I ~j CITY-O'F ARCADIA C 750/00 7-#1'/ s-ff AND WHEN RECORDED ""AIL TO RECORDED IN OFFICiAL RECORDS OF LOS ANGELES COUNTY, CALIF, FOR TITLE INSURANCE & TRUST CO. MAR 1 1968 AT 8 A.M. RAY. E. LEE, Count:,: Recorclec I Nom. City Clerk SIr..t P. O. Box 60 Addroll I SPACE ABOVE THIS LINE FOR fREE): R ., C"y I Arcadia, Calif. StateL ~ .....All TAX STATEMENTS TO I City of Arcadia I Nome St,.., "'( Addre.. ..."A~\ ",,1""''' C';;OI~ L ~O 1tJ- ~ ~\Ci. . i'01':\~ ~'J'O\..\C 1968'! c.....- ~ ' r Grant Deed .p. ?: .F. AFFIX AA-S. S ~ // On m_ ABOVE <( , l'I ~ \J ;.. "t TO 405 C (4 67) THIS FORM FURNISHED BY TITLE IN9UR"NCE AND TRUST COMPANY FOR A VALUABLE CONSIDERATION, receIpt of which is hereby acknowledged, ROxY F. WILSON !.!.. ~11rebY GRANT(S) to the CITY OF ARCADIA, a Municipal Corporation, IN T€E . afl eS8emeRE for public street and road purposes, to become a part of and to be known as Baldwin Avenue, in, on, upon and across <::> :>.. '- .... ,,' Ihe folloWIng described real property in the County of Los Angeles City of Arcadia, , State of Cahtorm";: The easterly 12.00 feet of the southerly 50.00 feet of the northerly 100.00 feet of Lot 8 in Block "H" of the Santa Anita Land Company I 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. FREE RECORDING ESSENTIAL TO ACQUISITION BY CITY OF ARCADIA, a municipal corporation. SEE GOVT. CODE # 6103. '" m II> 'n ':0 , .=0 ::! o :z: () :2 f"\ ;u r, =3 " " m 0 :z '" '" -< -< D.'.6J-< "{? .7 ~ 3 1-1'6~ / 7~ r7 ~. Wils ~'- . }ss before me, the under- he In and for said 5tal(', personally appeared Wil~nn to h~ the person_whose name i!=; Instrument and acknowledged that she " known to me subsCribed to the wlthlll executed the same ~......,...~"..~~."......n"-'''"':O';iiciAtSEt:L'''~-~ ~ ., ,CHRISTINE ,VAN MAANEN i ~ " . ,NOtAtlY PUBLIC CALIFORNIA ~ , ,PR'NtI"Al Of"f1CE IN , ~ " .... >" LOS ANGEWI COUNTY ~ ; " ."".. ." ..,,, ,." ,. . ... """"", "'" om '''''''''''~ ~ Ci I--l' WITNESr~':nd and OffiCi~ 71 . ,~s,gnstuiJ?Q.M {2 /,{hf ~ Name (Typed or Printed) My Commission Expires June 23, 1971 T,tle Order No, (ThiS al,'a fO! offtclal notarial tieall Escrow or Loan No ......-''''''''' "-. - MAil TAX STATEMENTS AS DIRECTED ABOVE ',' ." GRANT DEED GRANT DEED Title Insurance and , Trust Company' Title Insurance and Trust Company COMPLETE STATEWIOE TITLE SERVICE WITH ONE LOCAL CALL COMPLETE STAT"EW10E TITLE SERVICE WITH ONE LOCAL CALL ..- ~. ". . ..... , .. ..~. '-'.~ \ ",' ~ 't. I, " . . CITY,COUNCtL DON W HAGE MAYOR City of Arcadia C ROBERT ARTH MAYOR PRO TEM EDWARD L BUITERWORTH ROBERT J CONSIDINE J~MES R HELMS JR -I 240 WEST HUNTINGTON DRIVE ARCADIA, CALIFORNIA LYMAN H COZAD CITY..."'NAGER CHRISTINE VAN "'AANEN CITY CLERK May 9. 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 Canceilation of Taxes Baldwin Avenue Parcel No. 13 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, ~~ RO T D. GLE City Attorney RDO: jh Ene. ~ MAILING ADDRESSES CITY HALL POBOX eo 9100e LIBRARY 20 W DUARTE ROAD 910015 POLICE DEPAR1"MEN~ POBOX 60 910015 FIRE DEPARTMENT 7105 SANTA ANITA AVE 9100e TELEPHONES 44e-40471 . eSl.oZ7e 446-7111 447.2121 4415.2128 MARK H BLOODGOOD AUDITOR.CONTROLLER COUNTY OF LOS ANGELES DEPARTMENT OF AUDITOR.CONTROLLER 153 HALL OF ADMINISTRATION LOS ANGELES. CALIFORNIA 90012 625_:9611 March 19, 1969 Ci ty of Arcadia 240 West Huntington Drive Arcad ia, Calif ornia 91006 Attention: Robert D. Ogle City Clerk RE: BALDWIN AVENUE PARCEL NO. 13 Gentlemen: Pursuant to y~'ur letter dated May 9, 1968, taxes have been cancelled in acc~rdance with Section 4986 ~f the Revenue and Taxation C'"lde. This cancel- lation was ordered by the Honorable Board ~f Super- visors Oct. 29, 1968 by Auth"rizati~n No. 06332. Very truly y'urs, ~ffiRK H. BLOODGOOD, Auditor-Controller ;je I3'J J. R. Passarella, Chief Tax Division JRPjEHP/ejrl ROBERT A GZLL CHIEF DEPUTY J. R PASSARELLA, CHIEF. TAX DIVISION RECEiVED MAR 25 1969 CITY OF ARCAOJt\ C'TY .:I..1TOR!'JEY TO 1012-1 F C CollfornlO Lond Title AS5oclolton Stcmdord Coveroge Poll<;Y Form COPYright ] 963 POLICY OF TITLE INSURANCE ISSUED BY Title Insurance and Trust Company TItle Insurance and Trust Company. a Caltfornia corporatIOn, herein called the Company, for a valuable consIderatIOn paId for this poltcy. the number. the effectIve date, and amOunt of whICh are shown m Schedule A, heteby insures the parties named as [nsured 10 Schedule A, the heirs. devlSees. petsonal repreSentatIves of such Insured. or If a corporation. its successors by dIssolutIon. merger or consoltdatIon, agaInst loss or damage not exceedmg the amount stated 10 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 sustam by reJ.son of Any defect In or lien or encumbrance on the title to the estate or Interest covered hereby In tht.' land descnbed or referred to In Schedule C. eXisting at tht.' date hereof. not shown or referred to In Schedule B or excluded from coverage In Schedule B or In the ConditIOns and Supulauons, or 2. Unmarketablhty of such utle. or 3 Any defect In the execution of any mortgage shown 10 Schedule B secunng an Indebtedness, the owner of which IS named as an Insured 10 Schedule A. but only IOsofar as such defect affects the hen or charge of saId mortgage upon the estate or mtt.'rest referred to In thiS policy, or .1 Pnonty over said mortgage, at the date hereof, of any hen 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 pnonty, all subject, howeypr:-16'-")1\'}"'p"'h\'islOns of Schedules A, Band C and to the CondItions and StipulatIOns -""" "\\\ hereto annex..cl~ ~C~ ANO 'RJ. 1\ -,,~ 000000 v.s 1/ ;' ,'~ oO~.t IS P,?Ooooo .I' /J ;:1 v:j'V oO-?-Ol" . .,.'" '0 ^ . j; ~ oo~ ./I.~~t&Mn~JMtJi1-gss"..W\hereofJ Title Insurance and Trust Company has caused Its /;t! ..... 0 ~ r>q. ^ O;:"'.../;l .-(\ 0 ~ h ~ '-. 0 k. >} ~con:?orateJ name and seal to be hereunto affixed by Its duly authonzed offICers % .... oL~ ~~ t"tIi'""d' 0 ...., I" d ;;j -.J 0 ~cs<-y~, n, e, ate .hown'Jn Sche ule A. " I- 0' j.AA -. ;'(.Ji""'G\O " ~ I;J - 0-_~~""'.!!11\ 0 Z % r~l-o /, _ 0_% rJ 0'. I-- - ., ~ . ~= 0 ,,% ~ o.>o1I;_~':j f~Q: ~ ~ 1< 0.'5>", - ::<~'":l,_ ,<.'1j~~.0 * j:: ~J j 0 ~ ' ~---,' t-'<-o - '1/ '<() oO~r-'lTE ~tS G"'ooo ~'.: III ;SO >4 00000000 c~v .:- \\\\ ^'GELES, ,.::--=- \\\\\.,"~~ Title Insurance and Trust Company by ~~ ;Z:SIDENT Allefl CJ.Lu H-~ SECRETARY CONDITIONS AND STIPULATIONS I DEFINITION OF TERMS The (ollowlng terms when used In thiS polIcy mean (a) 'land" the land descnbed, speCific- ally or by rdeft-nee, In Schedule C and Improvements affixed thereto which by law consmute rea] propeny, (b) "public records" those records whICh Impart COnS(fllctJve notICe of matter.. relating to 5<lld land, (e) 'knowledge" actual knowledge, not constructive knowledge or notICe which may be 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 seeunty lOstrument, and (f) "Insured" the party or parties named as Insured, and If the owner of the 10- dehtedoe55 s<ecured by a mortgage shown 10 Schedule B IS named a~. an Insured 10 Schedule A, the Insured shall mclude (1) each succeSSor In Interest m ownershIp of smh IOdebtC(iness, (2) any such owner who acqUire.;; the estate or mterest referred to In thlS policy by foreclosure, trustee'<; sale, or other legal manner m satisfactIOn of said Indebtedness, and (3) any federal agency or HlStrumenraltty which IS an In- <;urer or guarantor under an Insurance con- tract or guaranty insuring or guaranteelO,g said Indebtt-dness, or any part thereof, whether named as an Insured herem or not, "ubJect othetwtse to the prOVISIOns hereof 2. BENEFITS AFTER ACQUISITION OF TITLE If an mSl.1red owner o( the IOdebtedness <;ecured by a mort~age descnbed 10 Sched- ule B acquires saId estate or IOtere"t, or any part thereof, by foreclosure, trUStee's sale, or other legal manner 10 satI"factlon of saId IOd(;btedne<;s, or any part thereof, or If a federal agency or mstrumentalny acqUires saId estate or IOterest, or any part thereof, as a consequence of an IOsurance contract or guaranty insuring or guarantee- 109 the Indebtedness secured by a mortgage cmered by thiS POlICY, or any part thereof. thiS policy :,hall continue In force 10 favor of such Insured, agency or mstrumentallty, subject to aU of the conditIOns and stIpula- tIOnS hereof 3. EXCLUSIONS FROM THE COVERAGE OF THIS POliCY ThiS policy does not Insure agalOst los<; or damage by reasons of the followmg (a) Any law, ordmance or governmental regulatIOn (lOeJudmg but not limited to buddmg anI:! zonmg ordln,tnces) restncung or regul:Jtmg or prohlb,tmg the occupancy, use or enJoyment of the land, or regulatmg the charact~r, dlmen"lOn<;, or locatIOn of .toy ImprOV~ment now or hereafter ereeted un <;ald land or prohlbltmg a separatIOn 10 owner<;hlp Or a reductIOn 10 the dimenSIOns or are.-t of any lot or parcel of land (h) Gov~rnmemal fights of polICe power or emInent domain un]e<;s notice of the nerCl<;e of ~uch nghts appears 10 the public relOrd<; at the date hereof (c) Tltl", to any property beyond the Jines of the land expressly descnbed In Schedule C, or utle to streets, roads, ave- nues, lanes, way<; or waterways on WhICh such land abut<;, or the II,ght to lllalOtam therem vaults, wnnels r.lmp!. 01 an}' ocher structure or Improvement, 01 any nghts Of easements (hercm unle<;s {hl<; policy specdlc- ally proVIdes {hat <;uch property, rt~hts or casements afe Imuled except that If the land abuts upon one 01 more phYSICally open streets Of hl~h,\ay<; thl<; pollcy IOsures the ordmary nghts of abuttln~ owners for access to one of such <;treet<; or hl,'!:hways, unless otherWIse e'\cepted 01 excluded herem (d) Defects, hens, em.umbrance", adverse clalm<; .lg,liDH the title as iDwred or ocher matters (1) created, <;uffered, assumed or agreed 10 by the In<;ured c1almlOg loss or damage, or (2) known (O the Insured C]am1am either ,It the date of thiS POlICY or at the date such Insured ClaImant ac-, qUJred an estate or mtectst IOsured by thl<; poltcy and not shown by the publtc records unless dlsclo~ure thereof In wntlOg hy the Insured shall have been made to the Com- pany pnor to the date of thl<; policy, or (3) resultmg 10 no loss to the I n<;ured Claim- ant, or (4) attachmg or crt'ated subsequent to the date hereof (e) Loss or damage whICh would not have been sustamed If the In<;ured were a purchaser or eOturnbrancer for value WIth- out knowledge 4, DEFENSE AND PROSECUTION OF ACTIONS -NOTICE OF CLAIM TO BE GIVEN BY THE INSURED (a) The Camp.lny, ,l( Ih own co"t and Without undue de]ay shall proVide (1) for the defense of the Imurtd 10 all litigatIOn conSIsting of actions or pro<.eedlO,g<; com- menced agamst the Imured or defenses, restraining orders, or injUnctIOns Interposed agalOSt a forecJo~un~ or ~ale of the mort- gage and mdebtedness covered by thiS polley or a <;ale of the estate or Intere<;t 10 saId land, or (2) for such .-tctlOn as may be appropnate to establish (he tlt]e of the estate or Interest or the lien of the mon- gage as msured, \\hl<.h Iltlg,ltlOn or actIOn 10 any of such events IS founded upon an alleged defect, ilen or encumbrance 10- sured against by thl~ policy, and may pur- sue any lItIgatIOn to fJO.II determlnatlOn 10 the court of last resort (b) In case any such actIOn or proceed- 109 shall be begun, or Jefense Interposed, or In ca<;e knowledge "hall come to the In- sured of any claim of tl(le or mtere..t which lS adverse to the tltlt. of the estate or In- terest or hen of the mortgage as msured, or which might C.lu!.e l()!.~ or damage for whICh the Comp.ll1Y !.h,t11 or may he !table by vlltue of thl" pO]H.y, or If the Insured shall 10 good f.uch contract to sell the m- debtedness secund by .1 mortgage c(nered by [hIS pollcy, or, If ,Ill Insured 10 good falth lea~es or umtr.lu.. to sell, lease or mortgage [he S.lrne, or If the <;uccessful bIdder at a forc:c1osurt' ...lIe under a mort- gage covered by thiS pulley refuses to pur- chase and 10 any ~uch event the tlt]e to said estate or mterest IS reJe<ted as un- marketable, the Insured shall notify the Camp.lny thereof 10 \\f1ttng If such nOllce shall not be gIven to the Company wlthm ten days of the receipt of process or plead- lOgS or If the Insured Sholl! not, m wrltlOg, promptly notify the Comp.lny of any de- feet lien or encumbrance Insured tlj;:!mst which \halJ come to [he J..n()\\'led~t' of the Insured or If the Insured shall not, 10 wntmg promptly notify the Company of any such reJectwn by rea..on of claimed un- m.uket,lbdJty of tIt]e then all lIablltty of the Company 10 regard 10 the subject matter of !.uch aCTIon proceedlOg or matter shall cease ,md termlOate, prOVIded, however, that fadure to noufy shall 10 no case prejudICe the claIm of any Insured un]e<;~ the Company shall be actually preJudiced by Suth fadure and then only to the e'{tent of such prejudice (c) The Company shall have the tight at ItS own COSt to IOstltute and prosecute any actIon or proceed 109 or do any other act which 10 ItS oplOlon may be necessary or de~lrable to estabhsh the title of the estate or mterest or the hen of the mort- gage as IOsured, and the Company may take any appropfl.-tte actIOn under the term.. of thIS pohcy whether or not It <;hall be hable thereunder and shall not thereby concede habdlty or waive ,my provIsIon of thiS poltcy (d) In all C,l..e~ where thiS poltcy p<.r- mlts or reqUlre<; the Company to plO"ecute or prOVide for the dden<;e of any actIOn or proceedlOg, the Insured shall secure to It the tight to "0 pro<;elutt or prOVide de- fense 10 su<.h a<.tlOn or proceed 109, and all appeal<; therem, and permIt It to use, at It" option, the nam(' of tbe J nsured for such purpose Whenever requ(\ted by the Com- pany the Insured shall gIve the Company all reasonable :ud 10 any such actIOn or proceed 109, m effec[lOg <;ettlement, <;ccuflng eVIdence, abtalOlng w\[ne<;<;es, or pro<;ecu- hng or defend 109 such ,ictlOn or proceed- 109, and the Company <;hall reimburse the Insured for any e"pense so mcurred 5 NOTICE OF LOSS - LIMITATION OF ACTION In addltlon to the notlce<; reqUIred under paragraph 4(b), a statement 10 wtltmg of any ]o.;;s or dam,tge for whtCh It 1<; c1almld the Company IS Itable under thIS polley shall be furnIshed to the Company WlthlO SL\ty dJYs after <;uch loss or damage shall have been determmed and no nght of actIOn <;haJl accrue to the Insured undel thiS policy untd thIrty days after such statement shall have been furOl~hed, and no recovery <;hall be h,ld by the Insured under e1llS poltcy unles~ actIOn <;hall be commenced thereon wlthlO five year<; after eXpiratIon of said thlfty day petlod Failure to furnish such <;tatement of loss or damage. or to commen<.e such "UlOn withIn th<. time herelObefore speCifIed, ~hall be a con- cIus1\'e bar agalOst maJOten.lnce by the In- sured of any acuon under thiS poltcy 6 OPTION TO PAY, SETTlE OR COMPRO- MISE CLAIMS The Company shall h.lve the option to payor settle or compromIse for or 10 th<. nam(' of the Insured ,lny claIm msur<.d agaInst or to pay the full amount of thl~ pohcy, or, 10 case loss IS claimed under thl" pollcy by the owner of the IOdc:ht<.dnl"~ ~ecured by a mortgag<. covel<.d hy thl!. poltcy, the Company shall have the optulO to purchase saId IOdebttdness, such pur. chase, payment or tender of payment of (CondItIons and Stipulations Continued and Concluded on Last Poge of ThiS Policy) TO 1012.1 AB C California Land Tille Assoclollotl Standard Covera~ Pohcy-1963 SCHEDULE A Premium $ 'I- u, 00 Amount $ 2, 000 . 00 EffectIve Date March 1, 1968, at 8 a.m. Pohc)' No 67 52 007 INSURED CITY OF ARCADIA, ,a municipal corporation. 1. Title to the estate or interest covered by this policy at the date hereof is vested In CITY OF ARCADIA, a municipal corporation. z. The estate or interest in the land described or referred to In Schedule C covered by this policy IS a fee. , SCHEDULE B 'Ibis 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 hens by the records of any taxmg authority that levIeS taxes or asseSSnlents on real property or by the publiC records, 2. Any facts, nghts, interests, or claIms whIch (Ire not shown by the public records but which could be ascertomed by an :inspecuon of saId land or by makmg mqmry of persons ill posseSSlon thereof 3 Easements. claims of easement or encumbrances whIch are not shown by the public records 4<. DIscrepanCies. confliCts In boundary hnes, shortage In area, encroachments, or any other facts whIch a correct survey would d1sclose, and whIch are not shown by the publIc records 5. Unp;30tented Dllning claIms, reservntlOns or exceptlons in patents or m Acts authOriZIng the ISSuance thereof, water rIghts, darms or tItle to water. TO 1012.18 Cont. C Collfornlo Land Tille Auoeiatlon Standard Cov.ra". PoJley-1963 S C H E D U L E B - (Continued) PART II 1. General and special county and city taxes For the fiscal year 1967-1968 Second Installment : $169.17, Parcel 5383-022-010. 2. Such rights of way for and rights to repair and maintain pipes for conducting water over and across said property, and all rights of entry and right of way as were conveyed by Santa Anita Land Company to Edward C. Cribb and R. T. Brodek, by deed dated April 23, 1907, and recorded in book 3035, page 192 of Deeds, and as were reserved by Santa Anita Land Company in deed dated March 23, 1908, recorded in book 3353, page 64 of Deeds. 3. An easement purposes stated In Favor Of For Recorded affecting the portion of said land and for the herein, and incidental purposes, : 'California-Michigan Land and Water Company, a water main June 9, 1955 in book 48022, page 336, Official Records : that portion of said land within 5 feet of a center line described as f9llows: Affects Beginning at a point 127 feet westerly of the northeast corner of lot 8; thence southerly and parallel with the easterly boundary 280 feet to the southerly boundary of said lot 8. 4. An action in Commenced Entitled the Superior Court February 7, 1966 : city of Arcadia, a municipal tion, VS., Britta L. Albert, : 926351, Los Angeles County public street and incidental Parcel 13. corpora- et al., Case No. Nature of Action Affects purposes Notice of the pendency of said action was Recorded February 9, 1968, as Instrument No. 3426, in book M 2772, page 966, Official Records. . TO 1012-1-I056-IC C Amerlcarl land TItle Association loan PoliCY AddItional Coveroge-1962 0' California Land TItle As~oclatlon Standard Coverage Polll:y-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 southerly 50.00 feet of the northerly 100.00 feet of lot 8, in Block "H" of the Santa Anita Land Co.'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. . , TO 234' VC 1 ~NTA ANITA BLOCK 1-1 LAND COMPANY:S- M B 6-1.37 TRACT I ! L.EMON -- -. - "'__'ilL--. -' - - 'AVE.- a a-I ~><-; "~"'~'~~'...",~ 630 ~ I.. ~ _ _@ ~fJ~ ~(~~ ~ -J.~ eo 70 ~ 'ff , B I~~~'~ ~1~ tll~1 ~ I ~ I I (\: V I I ~~0\;d~ ~ - L - !Ii . I 0/)) I\'?~' o~ i~ - -1 ,r~~ I I 'll~!k~~ ~ h I ~f~1 I ~-~-~_........- [ \ ~ I~: I I I ~ . 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I - -' . ------Av,E- - a-~--~ Ii @ ThIS IS not a survey of the land but IS comptled for Information by the Title Insurance and Trust Company from data shown by the official records CONDITIONS AND STIPULATIONS (Contrnued and Concluded From Reyerse Side of Policy Face) lll( full amount of tll1~ policy, together \\ Ith Ail CO~tS, atto! n('y~ fee~ and expeme~ \\ hlch the Company IS ob]lgated hereund<.'r 10 pay shalt' tf:rmmate all 1mblllty of the Compar1Y hereunder In the event, after notlce of claim has bet.'n ~Iven [0 (he Com, P,lnY by rhe Insured the Company offer~ to purchase s:lld mdf:btedness. the owner of ~llch lndebtedn~s shall transfer and a~slgn ~,lld IOJebtedness and the mortga~e secunn,!: the ~af[1e to the Company upon payment of the purchase prlce 7 PAYMENT OF LOSS (a) The liability of the Company under thiS policy shall m no ca~e exceed, In all the actLJal los~ of the Insured and costs and ,ltlorne}'S fef:" which the Company may be (Ibhgated hereunder to pay (b) The Company ",111 pay, In additIOn to any loss IOsured agalO~t by thiS policy, .11] co::.(S Imposed upon the Insured In lth- ,~J.tlOn carned on by the Company for the Insured, and all CO~t~ and attorneys' fees 10 11[lgatlOn carned on by the Insured With the wfltten authoflz,itlOn of the Company (c) No claim for damages shall aflse or be mali1tamable under thiS polKY (1) If the Company, after havlOg receIved notice of an alleged defect, lien or encumbrance not excepted or excluded herem remove~ ::.uch ddect, hen nr encumbrance WlthlO a reasonable time after receipt of such notice or (2) for l1abdlty vo]untanly a~sumed by the Insured In settling any claim or ~Ult Without written con~ent of the Company, or (3) 10 the event the title I~ rejected as unmarketable because of a defet:t, hen or encumbrance not excepted or excluded In thIS pohcy untll there has been a fmal determlnanon by a lOUrt of competent JUfl~- diction sustalOlOg such rejectIOn (d) All payments under thiS pohcy. ex- cept p~yments made for co~ts, attOrneys fees and expense:s, ~hall reduce the amount of the ln~urance pro tanto and no payment shall be made WIthout produclOg thiS poilcy for endorsement of ~uch payment unless the poilcy be ]o~t or destroyed 10 which case proof of such lo~~ or destructlOn ~hall be furOlshed to the satl~facflon of the Com. p,lny, prOVided however If the 0\\ ner of ,In IOdebtednes~ ~etllftd hy .1 mortgage ~hown 10 Schedule B " .\0 In~ured herem thtn ~uch pavment~ ~h,lIl not reduce pro tanto the amount of tilt' m~llr.tnCe afforded hereunder as to such ImurtJ, eHept to the extent that such pJyment" reduce rhe amount of Ihe IOdebtedne<os ~l-Cllf(d by such mOf(- gage Payment 10 full hy any person or voluntary ~atlsfactLOn or re1e,lse by the In- SUlt.J. of a mortgage: ClI\'treJ by thiS pohcy "hall termlOate all h,lhllllY of the Company to the IOsured owner of the IOdebtedne~s ~ecured by such mong,lgt, ('xcept as pro- Vided 10 paragraph 2 hueof (e) When liability h,l~ been deflOltell' fixed 10 accordance with the condltlOn~ of thl~ polICY the los~ or d.lm,lge shall be pa}- able wnhlO thirty da}~ thereafter B LIABILITY NONCUMULATIVE It IS expre~~ly under~tood that tht. amount of thIS polity " rtduced by any amount the Comp,lO~ Ill,l}' P,lY under any policy IOsunng the \,drdlty or pnonty of any mortgage \ho\\ n or rderred (0 10 Schedule B hereof or ,lilY mortgage here- after executed by thl In~urtJ whIch IS a charge or hen on thl <.'~t,lte or IOtere<;t descnbed or referred to In Schedule A, and the amount m paId sh d] bl deemed a pay- ment to the In~ureJ undt.( thiS policy The proVISIOns of rhl~ p.lrJ}..:r,lph numbered 8 ~hal1 not apply to .Ul In\l!rld owner of ,10 LOdebtedne~s secured by .I mortgage shown to Schedule B unle~~ ~uth In~llred acqUlre~ wle to saId estate or lllte:re~( 10 satisfactIOn of said LOdebtednes~ or .lOy put thereof 9 SUBROGATION UPON PAYMENT OR SETTLEMENT Whene\er the CompJny ~hJlI have settled ,I claim under thiS pohcy, all fight of sllb- rogatIOn ~haIl vest 10 the Company un- affected by any act of the Insured, and It ~hall be subrogated to and be entitled to all fights and remedlt~ whICh the Insured would have had agalOst ,lOy person or prop- erty 10 respect (0 "llch claim had thiS poltey not been Issued If the payment does not cover the loss of the Insured, the Company ..hall be subrogated to such fights and remedies 10 the proportIOn '" hICh said pay- ment hears to the amounI of ~ald loss If lo\~ ~houlJ re~ult from .In} au of the In~ \lln-d, "uch ,1(( ~hall not vnlt! thl~ policy but the Comp,IOY 10 thJt event, ~ha]] be requlled to p.ly only th,1t pJrt of ,lOy losses IOsured a~alOst hereunder which shall e>..- cttd the amount, d ,1O}'. l\l~{ 10 the Com- pany by reason of the ImpJlrment of the: flght of subroE\",ltl{m The In~ured, d re- quested by the CompJny, ~hal] tr.lnsfe:r to the Company all nghh ,lOd remedies agaJn~t any person or property neleS"ary 10 ordu to plrf('cc ~Uth llE\"hr of "ubrog,ltlOn, and ~hall permlt the Comp,IOY to use the name of the Insured In any tr,lOsactlOn 01 lItigation LOvolvlOg ~uch flgbt~ or remedies If the Insured 10:; the owner of the 10- debtedne~~ secured by .1 mortgage covered by thl~ polICY such Insured may release or <,ub<,tlt\lte the personal liabIlity nf an, debtor or guarantor, or extend or otherWise moddy the terms of payment or releJ.~e a portlOn of the e~tate or Interest from the Iltn of the mortgage, or rtle,l~e any co]- lateral ~etuflty for the In(lthtedne~~, pro- \ lded <;uch act doe~ not le~uh In any loss of prlOrl!y of the lLen of the moltgage 10 POLICY ENTIRE CONTRACT Any aCtlOn or actIOn.. Of f1Rht~ of actIOn chat the Insured may h,1\'e or may brll1g a,l.;alO..t the Company afl~ll1~ out OC the ~t,HUS of the hen of the ll10ltgJge covered by thl<; polity or the tide of the e~tate or Interesc lO~ured herem Il1mt be: b,l~l'd un the provlslom of thl~ polity No prOVISIOn or conditIOn of thl~ polICY l.tn he waived or changld except by "'flung endor<;ed hereon or attached hereto SIgned b\' the PreSident, a Vlte Pre\Ident, tht Secretary, an ASSistant St'lretary or mher 'Jl1datlOg offICer of the Company 11 NOTICES, WHERE SENT All notices reqUIred to be ~Iven tht. Com- p.lOy and any statement 10 wntlO~ lequlftd to be furOlshed the Company shall he ad- dre~~ed to It at the offICe which I~sued thl~ policy or to ItS Home Office, 4"',3 South Spnn,~ Streec, Los Angeles ~4. Cal1forOla 12, THE PREMIUM SPECIFIED IN SCHEDULE A IS THE ENTIRE CHARGE FOR TITlE SEARCH, TItlE EXAMINATION AND TITLE INSURANCE @ Title Insurance and Trust Company ..-OUNDEO IN 'IIQ3 POLICY OF TITLE INSURANCE Offermg compLete tltle serUlces throughout the state of Callforma wlth Just one local call Complete tlile services also aUGllable m the states of Alaska, Nevada, Oregon and Washmgton through Subsldwry Compames / Title Insurance and Trust Company Rome Office 433 South Spring Street Los Angeles 54, California